Amgen 1st-qtr results show flat group revenues and EPS downturn

US biotech giant Amgen (Nasdaq: AMGN) late yesterday announced financial results for the first quarter of 2019, noting that total revenues were unchanged at $5.6 billion in comparison to the first quarter of 2018, largely in line with consensus analysts’ estimates of $5.55 billion.

On a generally accepted accounting principles (GAAP) basis, earnings per share (EPS) decreased 2% to $3.18 driven by higher total operating expenses, offset partially by lower weighted-average shares outstanding.

Non-GAAP EPS increased 3% to $3.56 benefited by lower weighted-average shares outstanding, topping the view of analysts polled by Zacks Investment Research by 11 cents.